Bancor

 

Trade & Earn

 

What is open finance?

Bancor

Bancor is an exceptionally simple decentralized exchange that was the first of it’s kind that didn’t require you to give up your private key. Bancor allows you to earn interest on your favorite tokens, trade and stake. This permissionless option welcomes everyone to it’s open source platform. Traders, liquidity providers and developers can utilize the marketplace with just a few clicks of a button. Bancor is goverened via a voting system that offers full transparency, which gives you the power to take a part in the future of the platform.

How does it work?

When you arrive on the site, you can choose to either trade or earn. Trading is fast and secure, without signing up, registration or providing any of your own personal information – so totally anonymous. By clicking the Earn tab, you are opening up a world to stake tokens with loss protection.

In the center of the screen, you will see information about the total liquidity, volume, BNT price and total BNT staked. By clicking on the getting started button on the trade tab, you will be able to jump right into your first trade, you can choose to execute a trade at the market rate, or trade at a limited price. You can choose a asset like; BNT, ETH, WBTC and so many others.

What makes Bancor different?

– The Bancor ICO raised over $153 million in 3 hours in 2017
– One of the very first major ERC 20 tokens
– Runs on a smart contract based network
– Earn with impermanent loss protection

Liquidity is provided by thousands of users that are totally unaffiliated with the platform. This is much different from what we usually see with traditional banks and lending. As mentioned before, no one that uses this site will need to provide personal information, everything utilizes smart contracts to transfer the funds.

Summary

Overall, this is probably one of the simplest sites I’ve come across as far as trading and earning. One of the unique features that draws users is the ability to stake tokens to earn fees and rewards with impermanent loss protection.